LEAD MANAGER
CoastalSouth Bancshares, Inc.
Equity Capital Markets
Initial Public Offering
Transaction Details
On July 1, 2025, CoastalSouth Bancshares, Inc. (“CoastalSouth” or the “Company), a Georgia corporation and the bank holding company for Coastal States Bank, a South Carolina state-chartered commercial bank, announced the pricing of its initial public offering of 2,035,000 shares of its common stock, 1,700,000 of which are being sold by CoastalSouth and 335,000 of which are being sold by certain selling shareholders, at a public offering price of $21.50 per share.
The shares are expected to begin trading on July 2, 2025 on the New York Stock Exchange under the ticker symbol “COSO”.
In addition, the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 305,250 shares of the Company’s common stock at the initial public offering price, less underwriting discounts and commissions.
CoastalSouth intends to use the net proceeds from the offering primarily for working capital and general corporate purposes, which may include, without limitation, supporting organic growth, funding opportunistic strategic acquisitions, funding branch expansion, and repaying indebtedness. CoastalSouth will not receive any proceeds from any sale of shares by the selling shareholders.
About the company
CoastalSouth Bancshares, Inc. is a bank holding company headquartered in Atlanta, GA. Through our wholly owned subsidiary, Coastal States Bank, a South Carolina state-chartered commercial bank, we offer a full range of banking products and services designed for businesses, real estate professionals, and consumers looking for a deep and meaningful relationship with their bank. Coastal States Bank has a community banking presence in the Lowcountry of South Carolina (Hilton Head Island, Bluffton and Beaufort), Savannah, and the Atlanta Metropolitan market, and serves communities across the country through its Government Guaranteed Lending, Senior Housing, Marine Lending, and Mortgage Banker Finance lines of business. At present, COSO has approximately $2.2 billion in total assets.
Sources: Company Filings and Press Release.
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The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from Stephens Inc.’s Equity Syndicate Desk, at Stephens Inc., 111 Center Street, Little Rock, AR 72201, ATTN: Equity Syndicate Desk, or from the Securities and Exchange Commission’s website at www.sec.gov at the following link: https://www.sec.gov/Archives/edgar/data/1297107/000095017025089216/s-1_3.31.2025_-_amend1-n.htm. A registration statement relating to these securities has been filed with the Securities and Exchange Commission. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the notice of its acceptance given after the effective date.
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